Good demand for Indian spices; export touch $2,432.85 mn

Indian spices maintained their robust demand in the international market with their export touching a whopping Rs 14,899.68 crore in 2014-15 as compared to Rs 13,735.39 crore (USD 2,267.67 million) a year earlier.
Chilli, mint and mint products, cumin, spice oils and oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek contributed substantially to the spice export basket as the demand for Indian spices scaled up phenomenally at the global level.
In 2014-15 fiscal, a total of 8,93,920 tonnes of spices and spice products valued at Rs 14,899.68 crore (USD 2,432.85 million) were exported, registering a 9 per cent increase in volume and 8 per cent in rupee terms and 7 per cent in dollar terms in value as compared to 8,17,250 tonnes valued at Rs 13,735.39 crore (USD 2,267.67 million) in financial year 2013-14.

The total export of spices during 2014-15 exceeded the target of 7,55,000 tonnes valued at Rs 12,304.90 crore (USD 2000 million) in terms of both volume and value for the financial year 2014-15.
Spices Board, the flagship organisation under the Union Ministry of Commerce and Industry, has been able to meet the export target by devising multifaceted activities for promotion of spices and sustaining their demand in the global market.
"The achievement is substantial - 118 per cent increase in terms of volume and 121 per cent in rupee and 122 per cent in dollar terms of value - and it was achieved in the face of tough competition. Increased demand for Indian spices in the international market is a testimony to their unmatched quality and escalating faith in their sustainability," said A Jayathilak, Chairman, Spices Board in a release here today.

Chilli continued to be India's largest exported spice, accounting for 347,000 tonnes in quantity and Rs 3,51,710 lakhs in value during FY 2014-15. The export grew by 11.04 per cent in quantity and 29.20 per cent in value as compared to FY 2013-14.